Wealth Alliance Sells 176 Shares of Synopsys, Inc. (NASDAQ:SNPS)

Wealth Alliance cut its position in Synopsys, Inc. (NASDAQ:SNPSFree Report) by 19.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 741 shares of the semiconductor company’s stock after selling 176 shares during the quarter. Wealth Alliance’s holdings in Synopsys were worth $340,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SNPS. OFI Invest Asset Management bought a new position in Synopsys in the third quarter valued at about $26,000. Freedom Wealth Alliance LLC bought a new position in Synopsys in the fourth quarter valued at about $26,000. Venturi Wealth Management LLC bought a new position in Synopsys in the third quarter valued at about $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Synopsys in the third quarter valued at about $29,000. Finally, VitalStone Financial LLC bought a new position in Synopsys in the first quarter valued at about $30,000. 84.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SNPS shares. Needham & Company LLC increased their target price on Synopsys from $500.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. Stifel Nicolaus restated a “buy” rating and set a $550.00 price objective on shares of Synopsys in a research report on Monday, November 27th. Morgan Stanley began coverage on Synopsys in a research report on Friday, November 10th. They set an “overweight” rating and a $600.00 price objective for the company. Rosenblatt Securities raised their price objective on Synopsys from $485.00 to $570.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Finally, StockNews.com downgraded Synopsys from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Synopsys has a consensus rating of “Buy” and a consensus price target of $576.60.

View Our Latest Analysis on Synopsys

Synopsys Price Performance

NASDAQ SNPS opened at $575.30 on Monday. The business has a 50 day simple moving average of $530.48 and a 200 day simple moving average of $493.26. Synopsys, Inc. has a one year low of $347.97 and a one year high of $582.85. The stock has a market capitalization of $87.44 billion, a P/E ratio of 72.46, a P/E/G ratio of 3.87 and a beta of 1.07.

Synopsys (NASDAQ:SNPSGet Free Report) last released its earnings results on Wednesday, November 29th. The semiconductor company reported $3.17 EPS for the quarter, topping the consensus estimate of $3.04 by $0.13. Synopsys had a return on equity of 20.85% and a net margin of 21.05%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm posted $0.99 earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis. Equities analysts expect that Synopsys, Inc. will post 8.71 earnings per share for the current year.

Insider Buying and Selling at Synopsys

In other Synopsys news, insider John F. Runkel, Jr. sold 2,508 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $506.18, for a total value of $1,269,499.44. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at $13,555,500.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Synopsys news, insider John F. Runkel, Jr. sold 2,508 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $506.18, for a total value of $1,269,499.44. Following the completion of the sale, the insider now owns 26,780 shares of the company’s stock, valued at $13,555,500.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mercedes Johnson sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $494.70, for a total value of $1,731,450.00. Following the completion of the sale, the director now directly owns 1,697 shares of the company’s stock, valued at approximately $839,505.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,073 shares of company stock valued at $7,485,405. Company insiders own 0.69% of the company’s stock.

Synopsys Company Profile

(Free Report)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

Recommended Stories

Want to see what other hedge funds are holding SNPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synopsys, Inc. (NASDAQ:SNPSFree Report).

Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

Receive News & Ratings for Synopsys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synopsys and related companies with MarketBeat.com's FREE daily email newsletter.